Types of Funds
You may choose from the following options to establish and name a fund. In all cases, your commitment may be pledged over a five-year period.
Permanently endowed funds create a permanent legacy providing support to the purpose you specify in perpetuity. When we receive your gift, it is invested in the endowment pool. The principal is never invaded; only earnings are distributed. Endowed funds may be established with an outright gift, a pledge that will be paid over five years or a planned gift that will be realized in the future.
Many donors add an expendable portion to an endowed fund so that an immediate award may be made while the endowed portion grows.
Quasi-endowed funds are also invested in the endowment pool, but the principal may be expended. Quasi-endowed funds are appropriate for donors who prefer a more aggressive distribution rate and are not concerned about the fund existing in perpetuity. Quasi-endowed funds should, however, be established at a level where they can be expected to last for 10 years or more.
Expendable funds are available immediately for the purpose designated, and it is expected that these funds will be completely expended.